U.S. Gasoline Prices Surge Past USD4
According to data released by the American Automobile Association (AAA), the nationwide average price for gasoline climbed to approximately $4.02 per gallon, compared to $3.99 recorded on Monday.
This development marks the first instance since August 2022 that the national average gasoline price has surpassed the $4 mark.
Compared to the previous week, gasoline costs increased by 1%, while showing a sharp rise of nearly 35% over the past month.
On a yearly basis, fuel prices have also gone up by roughly 27%, reflecting a sustained upward trend.
Prices continued to differ from state to state, largely due to variations in supply conditions and taxation policies. California recorded the highest average price at close to $5.89 per gallon.
Following California, Hawaii reported an average of $5.45, Washington reached $5.35, while Oregon and Nevada both stood at approximately $4.93 per gallon.
In total, gasoline prices exceeded $4 per gallon in 12 states as well as in Washington, DC.
At the same time, the average diesel price across the country rose to $5.45 per gallon, marking a 45% increase compared to a month earlier.
The surge in fuel costs has been attributed to disruptions in supply chains and reduced production, both linked to rising tensions in the Middle East, which have significantly driven up global oil prices.
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